December 15, 2010

Its been a difficult year for most properties priced above $1.5m. Recently there has been tremendous improvement in most market segments except the high end Belvedere CA Real Estate. In fact, the most notable story in S. Marin real estate is the continuing price slide in Belvedereâ€”currently tied with Novato for the biggest price drop from the peak. Belvedere average prices are down ~29% from the 2007 high.

In thinly traded towns like Belvedere Homes, which averages just 29 sales each year, missing even several high end sales can mean the difference between a flat year and a statistically poor year– which is exactly what is happening this year.

There are 31 homes currently for sale in Belevedere; the average listing price is $6,775,097 or $1,427/sqft– the implied average lot value of these listings is above $5.3m. The average lot value in Belvedere is actually closer to $1.54m which means the lot / land component ofÂ value (as opposed to the actual structure / house value) of the average listing in Belvedere is 350% over priced.

Last, we spend a great deal of time researching these statistics. It is our competitive edge in the marketplace for your benefit– as we very often use this data to support our price negotiations.Â We work harder than other agents on this data primarily because want to earn your business. Please call or email us us today. 415-867-6611 Dave@thedupontgroup.net .